Nvidia is about to deliver “a wake-up moment for the tech bulls,” analysts say

Nvidia CEO Jensen Huang takes the stage at 1 p.m. ET this afternoon to deliver the keynote address at the chip designer’s GTC event.

The Street is looking for the unveiling of a new flagship AI chip and more details on its product road map. After Nvidia’s guidance in late February failed to put a floor under the stock, some analysts like Wedbush’s Dan Ives are expecting that this event will provide a swell of optimistic commentary about the company’s prospects that reinvigorates investors’ enthusiasm for the $2.9 trillion company.

Ives called this conference “a wake-up moment for the tech bulls” that will put “focus back on the AI revolution.”

“Jensen we expect will discuss Blackwell ‘off the charts demand’ from enterprise customers as Nvidia is the hearts and lungs of enterprise and consumer AI use cases forming around the globe,” he added. “We also expect Jensen to discuss next-gen Rubin architecture, Quantum computing, lingering worries about DeepSeek, and also focus on the physical AI future with autonomous and robotics the holy grail of AI use cases.”

Nvidia is no longer that expensive of a stock, Ives argued — and indeed, its forward price-to-earnings multiple is just over 25, hovering near multiyear lows. The company is poised to be a prime beneficiary of what he believes will be $2 trillion in capex linked to AI over the next three years.

Other analysts, like Bank of America’s Vivek Arya, have also been touting this conference as a potential bullish catalyst for the stock. Even with Nvidia’s recent travails, it’s still beloved by the sell-side community.

Shares of the chip designer bounced nearly 14% off their lows of the year to end last week, but gave some back with a 1.8% decline on Monday, even as the VanEck Semiconductor ETF and Nasdaq 100 rose on the session.

Like most of the so-called Magnificent 7, the stock is down on the year and lagging the S&P 500 over the past three months.